ReBOUND Residential in Florida has bought multiple properties like this one, a formerly bank-owned home in Sunrise, Fla., as investment properties. The houses are now bringing steady returns as rentals.
It's taken several years, but in many parts of the country, home prices are nearly back to where they were at the peak. In places like Florida, where the housing recession hit hard, home prices rose last year by one-fifth or more.
A major factor in the price rise is hedge funds, private equity firms and other large investors. They've moved aggressively into the residential market over the last two years, buying tens of thousands of distressed properties, often at bargain prices.
Some analysts are worried those bulk purchases will leave middle-class buyers out in the cold.
Teenagers put a lot of stock in what their peers are doing, and parents are forever trying to push back against that influence. But with the advent of social media, hanging out with the wrong crowd can include not just classmates, but teenagers thousands of miles away on Instagram, Snapchat and Facebook.
Originally published on Mon March 10, 2014 12:54 am
Too many poor Americans lack access to lawyers when they confront major life challenges, including eviction, deportation, custody battles and domestic violence, according to a new report by advocates at Columbia Law School's Human Rights Clinic.
In 1966, psychedelic drug advocate and former Harvard professor Timothy Leary appeared on the Merv Griffin Show.
"I'm in the unfortunate situation of being about 20 years ahead of my time," Leary said. When asked how many times he'd taken LSD, he answered 311. The audience gasped.
Leary was fired for experimenting with psychedelics on undergraduates, and before long, LSD was classified as a Schedule I drug, meaning it had "no known medical use." Research on the medical uses of LSD and other psychedelics came to a halt.
Chinese President Xi Jinping has made it a priority to eliminate corruption within the Chinese Communist Party.
"The [Communist Party] desperately wants the appearance of cracking down hard on corruption because they understand that rampant corruption is threatening the party's legitimacy," says Associated Press reporter Gillian Wong.
In a story published Sunday, Wong uncovers how that crackdown on corruption has led to another problem: abuse and torture of party officials.